Budgeting is inherently political. Too often, short-term goals overrun long-term institutional interest. By presenting the many layers of budgeting models with a clear, comparative framework, author Larry Goldstein, demonstrates the organic link between planning and budgeting, making it crystal clear that budgets and plans represent two sides of the same coin. Updated throughout to account for recent issues in budgeting, the fifth edition includes coverage of factors essential to the success of the budgeting process, including open communication with stakeholders, clear articulation of the budget to the strategic plan, budget implementation and monitoring process, and the role of technology. This book also offers new academic administrators and faculty: (1) An introduction to budgeting; (2) Economic and political factors affecting the process; (3) How to budget in difficult financial times; and (4) An insight on the role of the board in applying various budgeting approaches. [For the fourth edition, see ED595076.]